Exploration

The latest EIC Monitor tracking new active and future projects across the global energy industry shows growth in potential investment value across all sectors this quarter.

The organisation which represents America’s oil and gas companies has cautioned the president’s job council not to overlook potentially a million new oil and natural gas jobs, which could be created by energy development.

The BP Deepwater Horizon spill, pipeline leaks, population growth, urbanization, increasing demand, and opposition to the siting of new pipelines have combined to focus greater attention on pipeline safety. However, America is still heavily reliant on oil and there needs to be a compromise between pipeline security and the security of supply. By: Jude Clemente, JTC Energy Research Associates.

AMEC has been awarded a FEED contract for GDF SUEZ E&P UK Ltd's Cygnus gas field development, one of the most significant undeveloped gas fields in the North Sea.

Kosmos Energy announced that the Enyenra-3A appraisal well has confirmed an updip extension of the Enyenra light oil field on the Deepwater Tano Block offshore Ghana.

Both crude oil rich nations seek cooperation for the utilisation of their vast reserves: Iraq to build refining capacity and Kuwait to secure long term supply relationships.

TransAtlantic Petroleum Ltd. has entered into an agreement with LNG Energy Ltd. whereby LNG will invest US$ 7.5 million to immediately commence drilling the Peshtene R-11 well this week, which will be a 10,500 foot (approximately 3200 m) exploration well in the A-Lovech exploration license in Bulgaria.

Total has acquired a 40% interest in five offshore exploration blocks in Kenya. The company has acquired stakes in blocks L4, L7, L11a, L11b and L12 in the Lamu basin.

Petrobras has confirmed the presence of oil and gas accumulations in the ultra deep waters of the Sergipe-Alagoas basin, after completing a lined well formation test in the BM-SEAL-11 concession in Block SEAL-M-426.

Cuadrilla has announced that it has discovered shale gas reserves, estimated to be as large as 200 trillion ft3, in the Bowland Basin in Lancashire, UK. If the estimates prove correct, it will be the largest gas field ever discovered in the UK.

Apache Corporation has agreed to acquire Exxon Mobil Corporation's Mobil North Sea LLC assets, including the Beryl field and related properties, for $1.75 billion.

Trofagas Hidrocarburos, S.L., a wholly owned subsidiary of BNK Petroleum Inc., has been awarded an oil and gas concession totalling approximately 234,000 acres located mainly in the autonomous community of Castile and Leon, Spain.

Husky Energy Inc. has sanctioned the development of the Liwan 3-1 and Liuhua 34-2 fields, the principal fields of the Liwan gas project in the South China Sea.

Bureau Veritas is extending its partnerships in the Russian shipping and offshore sector, focussing on High Arctic offshore projects.

The Caspian Sea is a region with enormous potential for oil and gas exploration and production, but there are significant obstacles to overcome first.